GTR to drill US uranium project in September

Our US uranium Investment GTI Energy (ASX: GTR) is now weeks away from drilling its US uranium project.

GTR just received federal approvals for its next round of drilling, next is state approvals expected in August.

GTR expects to be on the ground and drilling in September.

GTR will be drilling its Lo Herma project which is ~16km away from Cameco’s Smith Ranch processing facility - the biggest ISR uranium processing facility in the USA.

GTR already has a ~8.57m lb uranium JORC resource estimate on the project.

With the next round of drilling GTR will be looking to upgrade that number AND the projects overall exploration target:

(Source)

The permit will allow for GTR to drill ~121 holes up to ~37,500m - which GTR says it will focus mostly on the most northerly section of its project area:

(Source)

We think GTR’s drill program could come at the right time just as the US government has started to intervene in critical minerals markets with government grants on projects they deem of importance for domestic supply chains.

The US currently has the world’s biggest nuclear reactor fleet (which means demand for uranium).

And yet, the US has virtually no domestic uranium production (for now).

Look how uranium production falls off a cliff in this chart:

(Source)

IF the US is serious about shoring up its domestic supply chains and increasing mineral production inside the US, we think Wyoming will have a role to play when it comes to uranium.

What’s next for GTR?

🔲 Drilling to increase Lo Herma’s resource (September 2025)

We want to see GTR drill out its Lo Herma project and increase its current JORC resource.

GTR expects drilling to start in H2-2025.

We want to see GTR drilling into the parts of its project where it has already defined an exploration target.

Here is an image showing those areas:

(Source)

🔄 Corporate administration

GTR has also announced to the market a timeline for some corporate administrative changes.

First of all GTR is changing its name to American Uranium Limited.

Second, GTR is looking to complete a 40:1 consolidation.

We will also be looking out for the issuance of the placement shares with ~$2.5M to be issued next week (8th July 2025) and the rest of the placement ~$2M after the company’s EGM.

With the placement shares to come online and the consolidation to happen we think there is a chance GTR’s share price trades sideways until all of the administrative work is completed.

Lower trading activity is something we are used to seeing in company’s going through a consolidation.

Normal trading in GTR shares on a post-consolidation basis is expected to begin on the 27th of August, as per the timetable recently released by GTR::

(Source)